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6 Commonly Overlooked Tax Deductions to Maximize Your Return

Success

“Can a dead person deduct medical expenses?” “Can ” These are just a few of the numerous requests Andy Phillips, director for the Tax Institute at H&R Block in Kansas City, Missouri, fields when tax time rolls around, as his clients muddle their way through what can and can’t count as a deductible expense.

Expenses 226
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Digital Nomads And Freelancers Need These Strategies To Navigate Tax Season Smoothly

Allwork

It’s crucial for freelancers to closely and continually track their income and expenses, as this determines their net income, on which taxes are due. To calculate their taxable income, freelancers must first tally all their revenues and then subtract their allowable business expenses.

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Who’s Stuck With The Bill?

Allwork

The rise in working remotely comes with several costs, which include internet subscriptions, computers and office equipment, home office furniture, security, insurance, and software. Those costs include internet subscriptions, computers and office equipment, home office furniture, security, insurance, and software.

Expenses 317
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Optimizing the Hybrid Work Landscape for Tasks to Do at Home

Allwork

Today’s management has the task of deciphering how best to optimize productivity in a hybrid work setting by designating the ideal tasks for employees to undertake at home and what tasks require their presence in the office. Additionally, commuting incurs significant expenses.

Expenses 162
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Will Office Dynamics Shift In 2024?

Allwork

A recent survey of 175 office workers in the U.K. reveals face-to-face meetings as the main reason for why people would want a return to the office. of the office workers stated that they would consider leaving their current roles if full-time, in-office attendance were to be mandated. According to the survey, 70.1%

2024 246
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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

Firstly, it is the simplest and least expensive form of business to set up and maintain. Sole proprietors report their business income and expenses on their personal tax returns, simplifying the tax filing process, and there are fewer ongoing compliance obligations compared to other business structures.

Legal 264
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Are You Covering All Expense Bases?

Step It Up VA Coaching

As entrepreneurs/business owners, we take great care in setting rates, creating packages and tracking the hours we and our teams put in; but are our rates really paying for our expenses? Most VAs work from home offices. Are you really considering all the costs of running, and growing a business, as expenses?

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